Before the loan advances, a quality-control reviewer must resolve a RESPA servicing and affiliated-business rules issue in an annual compliance meeting. What should happen?
Correct Answer
B) Follow the servicing notice or response timeline
RESPA/Regulation X limits referral value and sets servicing disclosure and response duties. The best answer is "Follow the servicing notice or response timeline".
Why This Is the Correct Answer
RESPA/Regulation X limits referral value and sets servicing disclosure and response duties. The best answer is "Follow the servicing notice or response timeline".
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Avery is reviewing a mortgage file involving FCRA credit-reporting rules credit-reporting rules. Which response best follows the governing rule?
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A borrower-facing employee is unsure what to do when a borrower sends a written request for information to the servicer-designated address. What is the correct response?